TATASTEEL

Tata Steel posted 7% YoY revenue growth in Q1 FY26, supported by domestic demand, while European operations remain under pressure. Margins improved slightly to 15%. Debt reduction continues, supported by strong cash flows. With capacity expansion projects underway, Tata Steel is positioned to ride India’s infra and housing boom. At ~12x FY26 EPS, valuations are reasonable for a cyclical stock. Suitable for medium-term investors seeking exposure to steel demand recovery.